Regulatory Alerts2022-12-14
Added
MAS Notice 632A Residential Property Loans – Fact Sheet
The Monetary Authority of Singapore issued Notice 632A to require all banks to provide and explain a fact sheet to borrowers before granting residential property loans. The notice mandates that the fact sheet must include key information such as loan tenure, amount, and repayment schedule, and outlines specific delivery and explanation requirements. This regulatory update, effective December 2022, supersedes previous versions to ensure consistent transparency in residential lending practices.